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Global Bond Income Closed-End, 28  Ticker: FBTZPX
 
Description
The Global Bond Income Closed-End Portfolio is a unit investment trust that invests in a pool of closed-end funds which invest in a wide range of bonds, including government bonds, corporate bonds, and mortgage-backed securities from domestic and foreign issuers, including those in emerging markets. The portfolio seeks a high rate of current monthly income, with capital appreciation as a secondary objective.
 
Summary
Product Code: GB2Y28
Portfolio Status: Primary
Initial Offer Date: 02/16/2018
Portfolio Ending Date: 02/18/2020
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $8.8538
POP(*): $9.0527
Remaining Deferred Sales Charge: $0.0750
* As of Trade Date: 06/20/2018 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Estimated Net Annual Distribution Per Unit
Year 1 * $0.6847
Subsequent Years * $0.6843
As of 06/18/2018
* The estimated net annual distribution for subsequent years is expected to be less than the amount for the first year because a portion of the securities included in the portfolio will be sold to pay for organization costs, the deferred sales charge and the creation and development fee.  The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Western Asset Emerging Markets Debt Fund Inc. EMD 12.72%
 Aberdeen Asia-Pacific Income Fund, Inc. FAX 12.65%
 Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. EDD 12.06%
 AllianceBernstein Global High Income Fund, Inc. AWF 8.84%
 Nuveen Global High Income Fund JGH 8.79%
 Western Asset Global Corporate Defined Opportunity Fund Inc. GDO 8.47%
 Western Asset Global High Income Fund Inc. EHI 8.44%
 BrandywineGLOBAL Global Income Opportunities Fund Inc. BWG 8.27%
 Morgan Stanley Emerging Markets Debt Fund, Inc. MSD 7.53%
 Templeton Global Income Fund GIM 7.22%
 Aberdeen Global Income Fund, Inc. FCO 4.87%
 
Total Number of Holdings:    11
Underlying Securities information represented above is as of 06/20/2018 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  1.37%
  Deferred:  0.83%
C&D Fee:    0.55%
Maximum Sales Charge:   2.75%
CUSIP Type Distribution
30306Y749 Cash Monthly
30306Y756 Reinvest Monthly
* Based on the offer price as of 06/20/2018 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.56%
Maximum Sales Charge:   0.56%
CUSIP Type Distribution
30306Y764 Cash-Fee Monthly
30306Y772 Reinvest-Fee Monthly
* Based on the NAV price as of 06/20/2018 4:00pm ET
In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 May 18, 2018
$0.07500 June 20, 2018
$0.07500 July 20, 2018

Risk Considerations

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Closed-End Fund Risk. Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds may employ the use of leverage, which increases the volatility of such funds.

Emerging Markets Risk. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less liquid, less regulated and more volatile than the U.S. and developed foreign markets.

Foreign Securities Risk. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

Investment Grade Bonds Risk. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade security market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cyber security.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

Fund Cusip Information
30306Y749 (Cash)
30306Y756 (Reinvest)
30306Y764 (Cash-Fee)
30306Y772 (Reinvest-Fee)
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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